Health startup Thatch now worth $1 billion

Thatch raised $108 million in Series C funding, reported September 15, 2026, valuing the company at $1 billion. The health-benefits service runs an ICHRA marketplace, where employers give workers set money to buy their own insurance. Started in 2021 by Chris Ellis and Adam Stevenson, it follows a $40 million Series B about 17 months earlier.